EMIF - 800 Fiqh of Transactions II
3 Credit Hours
This course has two parts; the first is a practical study on the Riba (usurious) transactions in the USA and issues related to them. It helps getting more insight about specific Sharia texts and their proper implementation regarding the developing daily transactions and dealings. Prior to that, there is an explanation of the technical definition of Riba (usury), its different kinds, Riba items, contracts that are subject to Riba, and how could they get inflected with
Riba. The second part is about the different modes of finance according to the Islamic financial system with some case studies from the Islamic mortgage companies in the USA.